Lucid Group (LCID) Starts $1.4 Billion Reset And Pushes Midsize EV To 2027

Lucid Group (Nasdaq: LCID) announced a US$1.4 billion cost-saving plan as part of a broad operational reset, aiming to improve cash discipline while the company reshapes its roadmap. Alongside the cost program, Lucid postponed its planned midsize EV launch to 2027. The company also created a new AI-focused business unit to advance autonomous-vehicle efforts with partners including Uber and Nuro. The move comes after weak stock performance: the shares closed at US$6.7, and the 5-year decline reached 97.3%. Lucid reported a net loss of US$1,034.85 million in Q2 and US$2,063.2 million for the first half of 2026.